F.N.B. (NYSE:FNB) Hits New 52-Week High Following Analyst Upgrade

F.N.B. Co. (NYSE:FNB) reached a new 52-week high during mid-day trading on Friday after Raymond James raised their price target on the stock from $17.00 to $19.00. Raymond James currently has an outperform rating on the stock. F.N.B. traded as high as $17.03 and last traded at $16.92, with a volume of 238634 shares. The stock had previously closed at $16.76.

A number of other analysts have also recently commented on FNB. StockNews.com raised F.N.B. from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Piper Sandler reiterated an “overweight” rating on shares of F.N.B. in a research report on Friday, October 18th. Finally, Stephens raised their price target on shares of F.N.B. from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.83.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Kathleen S. Wright Associates Inc. acquired a new stake in shares of F.N.B. during the 3rd quarter worth approximately $28,000. Brooklyn Investment Group acquired a new stake in F.N.B. during the third quarter valued at $31,000. Richardson Financial Services Inc. increased its holdings in F.N.B. by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 2,946 shares of the bank’s stock valued at $41,000 after buying an additional 1,473 shares in the last quarter. GAMMA Investing LLC raised its position in shares of F.N.B. by 113.8% in the second quarter. GAMMA Investing LLC now owns 3,314 shares of the bank’s stock worth $45,000 after acquiring an additional 1,764 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of F.N.B. during the 1st quarter worth about $45,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

F.N.B. Price Performance

The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 15.38 and a beta of 0.95. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $14.75 and a 200 day moving average price of $14.24.

F.N.B. (NYSE:FNB) last announced its earnings results on Thursday, October 17th. The bank reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $413.02 million for the quarter, compared to analyst estimates of $409.80 million. F.N.B. had a return on equity of 8.49% and a net margin of 16.29%. As a group, equities research analysts expect that F.N.B. Co. will post 1.34 earnings per share for the current year.

F.N.B. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, December 2nd. F.N.B.’s dividend payout ratio is presently 44.04%.

F.N.B. Company Profile

F.N.B. Corporation, a bank and financial holding company, provides a range of financial products and services primarily to consumers, corporations, governments, and small- to medium-sized businesses in the United States. The company operates through three segments: Community Banking, Wealth Management, and Insurance.